July 25, 2008, Newsletter Issue #169: The Importance of Cause-Related Marketing: WIIFM?

Tip of the Week

What is W-I-I-F-M? It's not a radio station. This simply is "What's In It . . For . . Me!??!" Wouldn't you agree that people are rarely if ever moved to do anything unless they see some type of WIIFM? Even if it is helping out a great cause out of the goodness of their heart they still get a WIIFM, or an intangible great feeling of doing things for others or giving back.

Knowing about, identifying and speaking to a WIIFM will take you a long ways in recruiting volunteers, donators, sponsors, etc.!

In an article on About.com's small business section, the author defines cause-related marketing --a contingent of WIIFM -- as follows:

"Embracing a cause makes good business sense. Nothing builds brand loyalty among today's increasingly hard-to-please consumers like a company's proven commitment to a worthy cause. Other things being equal, many consumers would rather do business with a company that stands for something beyond profits. Cause-related marketing can positively differentiate your company from your competitors and provide an edge that delivers other tangible benefits, including improved visibility and positive media coverage"

Consider Subway's "Eat Fresh" campaign. Did you know the fast food chain also sponsors the American Heart Association's Annual Heart Walk? Cause-Related Marketing!

Depending on the fundraiser you are coordinating, and the cause it's related too, make a specific list of businesses or industries who should be very interested in partnering with you because of the cause-related marketing benefits. These are good place to go cold calling!

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